JPMorgan price target raised to $338 from $336 at Morgan Stanley

Morgan Stanley raised the firm’s price target on JPMorgan (JPM) to $338 from $336 and keeps an Equal Weight rating on the shares. While JPMorgan EPS beat consensus by 5%, 75% of this beat came from the corporate segment, which generates lumpier returns than other segments and commands a lower multiple, notes the analyst, who points out that the beat falls to only 1% when backing out the corporate segment.